04/22/2021 | Press release | Distributed by Public on 04/21/2021 18:23
Iress today announced the integration of leading regtech provider Objective Corporation with its blockchain technology.
Earlier this month Iress announced it was building a complete solution supporting the industry in complying with the upcoming Design and Delivery Obligation (DDO) legislation. Today's announcement will drive even greater efficiency by enabling product issuers to publish Target Market Determinations (TMDs) created through Objective's Keystone software directly into the blockchain, ensuring distributors have access to the latest version.
Objective is a major supplier of regtech solutions for financial services, government and private enterprise, specialising in creating automated solutions for managing disclosure, governance and documentation requirements. Objective Keystone is used by several of Australia's leading financial services organisations for the production of Product Disclosure Statements (PDS) and other compliance documentation, with its customers publishing thousands of disclosure documents each year.
The Keystone TMD solution supports product issuers through the template design process, from authoring to approval and publishing. Through integration with Iress' DDO solution, Keystone customers will be able to publish their approved TMD directly into the blockchain - enabling product issuers direct access to the messaging service with connected distributors.
Iress chief commercial officer, Michael Blomfield, said: 'We are delighted to announce the integration of Objective Keystone into the Iress blockchain-based DDO solution. This legislation represents a challenge no traditional system or process in this industry can overcome, or that any one party can solve in isolation. We've seen strong interest from across the industry in a solution which addresses this challenge of multilateral validation and communication in a way that doesn't add unnecessary cost or complexity. Today's announcement represents another step forward in achieving this.'
Objective's CEO, Tony Walls said: 'We are pleased to partner with Iress by integrating with its blockchain solution for managing DDO. We know that our Keystone solution helps organisations reduce costs while strengthening risk and governance protocols which is why our solution is purpose built to help financial services businesses manage the new TMD obligations. We are excited about the combined expertise of our software with Iress' technology solution in further driving down cost and increasing efficiency in financial services.'